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Important disclosure

Bank of Scotland Car Loans Overview

Bank of Scotland logo

Bank of Scotland is a commercial bank of the Lloyds Banking group in the UK. They provide financial support to individuals, businesses, and private clients alike. Their financial support for individuals includes credit cards, mortgages, personal loans, and car loans.

Fancy a new or secondhand car? That’s great, but you have to make sure you can shoulder the cost! You may want to try short-term funding, like Bank of Scotland car finance. But how much is the monthly loan payment, you ask? Head on over to the Bank of Scotland car loan calculator to get an idea.

Terms from 1 to 10 years. Representative example: 5 year £10,000 loan with comparison rates from 2.8% to 49.9% APR would cost between £10,728 and £27,321, including fees. The interest can vary between £728 and £17,321.

About Bank of Scotland car loans

The first step in any loan application is knowing the loan’s features. This’ll help you decide if you’re getting the right car loan from the right lender. Below are what you’re getting with a Bank of Scotland car loan:

  • Amount from £1,000 up to £50,000
  • Term from 1 year to 7 years
  • Fixed APR
  • Short and fast application process
  • Instant credit decision (in most cases)
  • Ownership of the car from Day 1 of the loan
  • Direct debit repayments
  • Loan management through internet banking or mobile banking

You can find out more about Bank of Scotland car loans here.

Summary of application process

For you to apply for your Bank of Scotland car loan, you need to:

  • Be over 18 years of age
  • Be a permanent UK resident
  • Have owned a Bank of Scotland current account for at least one month

 

Bank of Scotland car loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
Sort loans by

Loan Amount

£20,000

Term

60 months

Change
Bank of Scotland

Bank of Scotland Car Loan, £1,000 - £35,000

Bank of Scotland Car Loan, £1,000 - £35,000
EST Monthly Repayment
£367 Inclusive of fees
EST Monthly Repayment
3.83%
APR
EST Monthly Repayment
12 months
to 84 months
EST Monthly Repayment
£1,000
to £35,000
GO TO SITE
You could get a rate of 3.9% APR Representative if you take a loan of between £1,000 - £35,000 over one to seven years.
Featured
Carmoola

Car Hire Purchase

EST Monthly Repayment
£474 Inclusive of fees
Interest Rate
14.80%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
£2,000
to £40,000
GO TO SITE
Carmoola's rates start as low as 6.9% for loans of between £2k - 40k over one to five years. Representative APR: 14.8%. Buy your dream car in minutes with Carmoola's virtual card, with a £0 minimum deposit. Carmoola is an entirely digital, app-based lender. No sales calls or paperwork! Take control and manage your loan in-app.

BestLoanRates.co.uk provides factual information in relation to financial products. While BestLoanRates.co.uk attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and, to the best of our knowledge, is correct at the time of publishing. The information published on BestLoanRates.co.uk is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product, you will be dealing directly with that provider and not with BestLoanRates.co.uk. BestLoanRates.co.uk recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information, please see BestLoanRates.co.uk's Terms of Use.

Minimum and maximum loan periods vary between 1 month and 10 years. APR varies between 2.80% and 71.30% p.a. Total interest repayments vary between £435 and £1,019 over the life of the loan. *APR is based on an unsecured loan of R£15,000 for a term of 3 years. WARNING: This APR is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different APR. These rates can change without further notice. All rates quoted are per annum.

Bank of Scotland car loan FAQs

Does Bank of Scotland require a deposit on their car loans?

No need! Bank of Scotland car loans are just like their personal loans in this way.

What rate will I get for my Bank of Scotland car loan?

You may get 4.4% for loans £7,500 to £25,000, of 1 year to 5 years. The APR will change with a different loan amount or term. It’ll also depend on other factors, like your credit profile and personal circumstances. The highest APR you could get for this car loan is 29.9%.

Will my payments on my Bank of Scotland car loan change every year?

Since the APR is fixed, the payments will stay the same until the loan ends. See how much you could pay monthly with the Bank of Scotland car finance calculator.

Will Bank of Scotland charge me if I make extra payments on my car loan?

They won’t, so feel free to pay off as much as you want! However, paying off the loan in full early is a different matter. Bank of Scotland may charge you up to 58 days’ interest if you do this.

Does Bank of Scotland offer payment holidays?

Yes, they do! In fact, you can have up to two one-month payment holidays within a one-year period. You’ll have to meet certain conditions first, though, before applying for a payment holiday.

Watch this video to find out more about Bank of Scotland loans:

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Bestloanrates.co.uk provides factual information in relation to financial products. While Bestloanrates.co.uk attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the produc provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on Bestloanrates.co.uk is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with Bestloanrates.co.uk. Bestloanrates.co.uk recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see Bestloanrates.co.uk’s Terms of Use and Services Guide.

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